Bitcoin price started a downside correction after trading to a new all-time high near USD 52,750. BTC declined below USD 51,500, but it is holding steady above USD 50,500. The current (05:00 UTC) price action suggests chances of a fresh increase above USD 52,000.
Similarly, most major altcoins remain well supported. ETH is consolidating gains above USD 1,880 and it could soon climb above USD 1,920. XRP/USD struggled to clear the key USD 0.550 resistance and corrected lower.
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There was a minor dip in bitcoin price below the USD 52,000 level. BTC even traded below the USD 51,500 support levels. The next major support is near the USD 50,500 level. The main support sits at USD 50,000, below which there is a risk of an extended decline towards the USD 49,200 level.
On the upside, the USD 52,000 level is an immediate resistance. A fresh close above the USD 52,000 level may possibly open the doors for a steady increase towards USD 53,000 and USD 53,200.
Ethereum price traded to a new all-time high near USD 1,925 and it is currently consolidating gains. An immediate support is near the USD 1,880 level. The next major support is near the USD 1,850 level, where the bulls might take